You need to know about accounting if you’re running a small business. Accounting is the foundation for financial planning and growth. With accurate records, it’s possible to make smart decisions. Profit and loss statements come in.
These statements identify your company’s expenses, income, and net worth and can be used to calculate your business’s financial health. Next, make sure you keep accurate records by using accounting software. This will help you track your business’s performance over time and make informed decisions about where to allocate resources. Finally, use the information in your profit and loss statements to make informed business decisions, like where to focus your marketing efforts.
Small businesses must invoice accurately and on time to properly account for their transactions. You should also keep track of expenses to ensure you’re being realistic in your calculations. If there are discrepancies, make adjustments so that invoices accurately reflect the work done. Finally, file taxes according to Generally Accepted Accounting Principles (GAAP) so you clearly understand how your business is performing. By following these basic accounting tips, small businesses can maintain accurate financial records and stay on track with their tax liabilities.
Business owners need to stay on top of tax deadlines, no matter the size of their business. Every small business should understand its federal, state, and local tax deadlines and a financial statement that is ready to go at all times. It’s also important to keep track of any changes in income or expenses, so you don’t overpay or underspend on taxes. Finally, don’t wait until the last minute to file your taxes. The penalties associated with late filings increase yearly, which could mean big problems down the road. Do it right the first time, and you’ll be in good shape for years.
Running a small business can be difficult, and accounting can be a big headache. That’s why it’s important to have an accountant on your team. An accountant can help you track your expenses, file tax returns correctly, and provide financial guidance for future growth. In short, an accountant is a valuable resource for small businesses that need serious financial guidance or oversight. If you’re unsure if you need an accountant for your business, consult with a business advisor to better understand your business and what accountant services may be beneficial.
If you own or operate a small business, then accounting is an important part of your business operations. By understanding the basics of accounting, you can keep your business running smoothly and ensure that all financial transactions are recorded accurately. In addition, accounting can help you stay on top of tax deadlines and healthily manage your business finances. If you still need to decide whether or not you need an accountant for your small business, consult a qualified professional.
The complete dns 15-minute solution will shortly be available for small businesses. Our online accounting portal offers a revolutionary hassle-free, convenient monthly process that guarantees control of your business.
We can assure you that converting from a sole trader to a limited company is not as complex as many accountants may have you believe, and that by doing so you may benefit from significant tax-saving opportunities using “goodwill”. For example: your business is making a profit of £100K and, therefore, the goodwill is around £500K. When you convert to a limited company you’ll pay £50K tax, BUT are you aware that you can save potentially 200K tax on amortisation? For more detail about this contact DNS and we’ll be happy to discuss this excellent opportunity further with you. Please be aware that this solution needs to be implemented meticulously, or else it may not be available.
Once you have decided to convert from a sole trader to a limited company and signed up with dns, all you then need to do is contact your dedicated portfolio manager who will explain the process to you in detail.
If you’re not a dns customer but would still like to convert from a sole trader to a limited company using the DNS Company Formation service, we can still help you do that very smoothly.
Definitely a limited company, and the main reasons we say this is that there are the following advantages: more opportunities for tax planning; it’s easier to attract finance; your company has more of an edge with the word “Limited” attached to it, and importantly in this complex commercial world, a limited company gives you added protection should something go wrong.
For a small business with a turnover of less than £125K that employs less than five people, dns accountants have tailor-made accountancy packages at very competitive prices. Our accountancy packages have been designed over many years and are engineered to meet the basic requirements of small businesses.
If your business turnover exceeds £125K, dns accountants provide no specific packages, but instead we offer you a free no-obligation meeting to determine your requirements. By understanding your business in greater detail, we will provide you with the necessary support to build on your success; sound financial advice, management accounts, tax planning and wealth management would all feature in your future strategies.
If your profits are greater than 125K, then we will provide you with a quote by return if you fill in this form on the right to contact us.
Get the best advice on tax savings, accounting services, payroll, self assessment, VAT and more, whether you want to call us directly, request a call back or chat online with our experts, rest assured that we will always give you the best advice.If you have any questions, or would like to speak to us in person, please do get in touch. We're here to help.
dns accountants
DNS House, 382 Kenton Road,
Harrow, Middlesex, HA3 8DP
We're proud of our clients and their success. Find out more about them and
the help
and
support we provide.
“I recently started my own company and in need of a good accountant. With my friends reference, I started dns accountancy services and I am a quite satisfied with their service. My account manager Sneha Gurudutta was always responsive and guided me a lot especially during my company early days. Keep u the good work.”
“I have been dns for the last 3 months and I am very happy with the service. My account manager Sneha Gurudutta guided me and helped me with all the major/minor steps with the account setup. The weekend support they provide is really helpful. I would definitely recommend dns to all my friends.”
“Unfortunately my son passed away without leaving any contact name of his accountant. I was able to make contact with the firm through HMRC. The staff were very prompt, caring and supportive in settling his income tax account. I was extremely impressed with the efficient caring and supportive service received from all of dns staff.”
“Been with dns Accountants for more than a year I would highly recommened their services. My account manager Sneha has been very helpful and helped with accounts and queries swiftly always! Having a good accountant means you can fully focus on your business, not worry about accounts and tax matters. Thank you dns :-)”
“I have been extremely satisfied with the service I have been receiving close to past 1 year. Very professional, transparent and helpful. Special mention of my Account Manager Minakshi Arora who made my transition very smooth and always ready to go that extra mile to support and make customer happy. Definitely recommended.”
“I've recently set up a Ltd. Company and signed up with dns for my accounting services. I've found it very good value for money and hugely helpful in terms of advice and guidance. I have a named Account Manager, Sneha Gurudutta, who keeps in contact with me and offers advice on line and on the phone... I'm really pleased with the service.”
Limited time only!
Say Goodbye to Bookkeeping Hassles: Nomi offers Free Receipt Processing and big savings!
Small Business
Business Start Up
Contractors
Freelancers
Landlords
Sole Trader
Construction Industry
Accounting
Bookkeeping
Payroll/Auto enrolment
Self-Assessment
VAT Returns
Year End Accounts
Accounting Software
Tax Advisory
Find a Professional
Business Recovery & Company Closures
IR35 Review
R & D Tax Credit
Seed Enterprise Investment Scheme (EIS/SEIS)
Tax Planning
Special Purpose Vehicle SPV
Corporate Advisory
Business Support Services
Business Insurance
Business Plan
Management Accounts
Company Formation
Tax Investigation Cover
Free accounting software
Virtual finance office
Our Story
Achievements
Charities
Blogs
Webinars
Newsletters